Location: St. Joseph County, MI | Metro: St. Joseph County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 49075 in metro FY 2026 is set at $1,050. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you decide to participate in the program, the government will pay up to $1,050 per month towards a tenant's rent. It's important to note that this does not dictate the actual rent you can charge, but rather the maximum amount the voucher will cover.
While the local median rent is listed as N/A, we can still gauge the demand for rental properties in 49075 by looking at the renter share of the population, which stands at 35.7%. This indicates that a significant portion of the residents are renters, suggesting there is demand for affordable housing options. The FMR of $1,050 should align well with the needs of these potential tenants.
Regarding acquisition costs, the average home price is also listed as N/A, making it challenging to provide a precise estimate. However, the FMR can be used as a benchmark to understand the affordability of rental units in the area. If you're acquiring a property to use as a rental, ensure that the monthly mortgage payments, along with maintenance and other expenses, do not exceed the total income you expect from the combination of the tenant's contribution and the Section 8 voucher payment.
Before proceeding with a Section 8 rental, one crucial step is to verify that the property meets the Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary for occupancy. A thorough inspection by a qualified professional can save you from costly repairs and delays in leasing the property.
In summary, the FMR of $1,050 provides a clear guideline for the maximum government subsidy you can receive. With a substantial 35.7% of the population renting, there is likely a good demand for your property. Ensure the property passes the HQS inspection to avoid future complications.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.